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Somerville, MA: 2014 Market Summary

The number of sales of residential properties (condominiums, single families, and multi-families) in Somerville decreased 0.4% in 2014, compared to 2013. There were 709 sales in 2014, compared to 712 sales in 2013.

Total market volume increased by 13.7%. The 2014 total volume was $420,442,752 compared to the 2013 volume of $369,742,245.

The average sale price increased by 14%. The average sale price in 2014 was $593,008, compared to $519,301 in 2013.

The median sale price increased by 13.1%. The median sale price in 2014 was $549,000, compared to $485,250 in 2013.

The lowest sale price was $130,000. The highest sale price was $1,575,000.

At the end of 2014, inventory was down 44% from 2013. On December 31, 2014, there were 19 units on the market. On December 31, 2013, there were 34 units on the market.

All statistics are from MLS Property Information Network.


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